Sage 100

SPS ccp settlement timeframe (payment timeframe of credit card money from Merchant) Has anyone heard of a 90-day timeframe as far as how long it takes for customers' credit card payments to hit the company's bank account? I've always known it to be about 3 days on average. Client of ours is using SPS, and says that their customers' VS/MC payments take about 90-days to hit their bank account. Amex though comes thru in about 3 days, as do the authorize-dot-net credit card web orders. To me this seems crazy to have to wait that long to receive the money. They apparently spoke to SPS about it but it hasn't been changed. Don't know why. I suggested they further pressure SPS on this.

This sounds way out of line. My first guess is that there is some type of credit risk that this customer has been flagged for -- possibly due to chargeback history? Are they in a risky line of business? What does the approval letter from SPS say? To my knowledge SPS should clear in about 3 days as well.

Thanks, @WayneSchulz. I thought that also, that maybe it had something to do with their history or industry. I'm not privy to their history, but they're in the candy business so I can't imagine that'd be considered ""risky"" - unless of course the candy contains some sort of pornographic material, lol.

So what we're being told by SPS is that in order for them to remove the 60-day delay, their Underwriting Department requires the following requirements to be met: the website is missing a Privacy Policy, a Return/Refund Policy and Delivery Standards. However, I'm now wondering why their authorize-dot-net web orders are settling in 3 days.